Assurance Specialist: Management Assurance at Absa Group Limited (Absa)

Job Summary

• To conduct management assurance reviews by evaluating the design and operating effectiveness of internal controls, assessing compliance with applicable policies, and verifying adherence to established procedures, thereby assisting management in enhancing and maintaining a robust and sustainable control environment.

Job Description

Conduct Assurance Reviews:

• Perform management assurance reviews by compiling a comprehensive list of activities for the relevant business unit, documenting and validating processes, identifying risk areas, assessing existing controls, evaluating their adequacy, and testing the effectiveness of adequate controls in accordance with the Management Assurance Methodology and Assurance Standard.
• Compile and complete accurate working papers and obtain approval from Assurance Manager.
• Provide accurate feedback to Business Unit Management regarding control failures identified on a continuous basis.
• Obtain agreement and buy in from business regarding control weaknesses and remedial actions identified during the review by holding a Close Out where consensus is reached with stakeholders and the process regarding disagreement with MA findings, ratings or content of the report is followed.
• Obtain remedial action and appropriate milestone and due dates to ensure identified risks are timeously and effectively mitigated.
• Provide Business with an objective, clear, concise and value-added assurance service by compiling a high-quality assurance Draft report and Final Report.
• Apply effective time management by completing assurance assignments within the specified timelines as per the Engagement Memorandum or Notice of Commencement issued to business.

Tracking/Follow up and Issues Management:

• On a monthly basis, track the remediation of issues allocated, and update the Issue Tracker with a status of on track or off-track progress.
• Obtain evidence of corrective action from business to determine whether the agreed action plans have been implemented in the business unit by reviewing received documentation and doing spot checks.

Stakeholder Management:

• Build relationships in the assigned business unit to position Management Assurance as a trusted advisor and supportive partner by displaying and adhering to the Absa values.
• Ensure that management and process/control owners clearly understand their accountability for managing risk and maintaining effective controls
• Provide ongoing feedback to Business Unit Management and the Assurance Manager on review progress and emerging concerns to ensure transparency, address any issues raised by the business, and work toward consensus on identified findings.
• Proactively collaborate with colleagues, offering technical support where needed to promote knowledge sharing, leverage best practices, enhance efficiency, and support effective monitoring.
• Maintain a high level of professionalism in all interactions with business and colleagues in terms of verbal or written communication.

Education:

• B Degree in Internal Audit, Regulatory discipline or equivalent NQF level 7 qualification or higher.

Experience:

• 3 years + experience in risk-based auditing or risk or control activities in a Regulatory discipline
• 3 years + Banking experience gained through auditing or a financial crime-related role (KYC / AML)

Skills:

• Sound knowledge of banking legislation, regulatory frameworks, and relevant compliance requirements applicable to the financial services industry.
• Understanding of risk management principles, internal controls, and core business operations.
• Analytical and critical thinking skills, with the ability to assess complex information and identify key issues.
• Knowledge and practical application of risk-based audit methodologies and control assessment activities.
• Excellent verbal and written communication skills, with the ability to convey complex information clearly and professionally.
• Proficient in Microsoft Office applications, including Word, Excel, and PowerPoint.

Education

• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

End Date: August 1, 2025